Cbarfty 1209305 (EDg]and and Wales)
SKINNERS. HERITAGE FOUNDATION
TRusfEESI REPORT AND ACCOUNTS
FOR THE PERIOD 26 JULY 2024 to 30 JUNE 21125

SKINNERS, HERfTAGE FOUNDATION
CONTENTS
P*ge
Report of the Th￿teeS
Independent examiner's Y¢port
Statement of fllthncial a¢tivities
Balance sh¢et
Notes to the accounts

SKINNERS, HER￿AGE FOUNDATIOIY
REPORT OF THE TRUSTEE
FOR THE PERIOD 26 JULY 2024 TO 30 JUNE 2025
The Trustee pres¢nts its report along with the fman¢ial statements of the Clwity for the peri￿ ended 30 June
2025. The financial statements have been prepared in accordance with the accounting policies set out on pages
8 and 9 tothe accounts and comply withthe Charity'5 Constitution, the CharAti¢s Act 2011 the secondedition
of the Statement of Recommended Practice applicablc to ¢haTities preparing their accounts in accordance with
the FinanciaL Reportlng Standard applicable in the UK and Republic of Ireland (FRS 102).
History
Skinners, Heritage Founkn is rewster¥J &8 a chvity number 1209305. It was estsblished on 23 July 2024 by
trust dee
Aitits Ind objectives
Theoliectives oftheChaTity areto aNJly income an& ifthe ThL8teethtnks fiL th¢c3pitsI (Wherep￿￿ble>tOwards.
The presmpalion and promotion of ihe herlt¢we arnl history of the Fyorshipfyl Comparyy of Sklpmerj and
advanclng the edwcthion ofthepublic in all mallers relating io lh¢ hiilory andheTitage oftlw Compapty.
The Tntstee's ¢wr¢nt aim is to build up the ¢apitsl fund to produce sufficient income to support these objects.
The address of the Charity is Skinners, Hall, 8 Dowgate HilL Londth4 EC4R 2SP.
Constithtlon The Charity is atrust Consti￿ by deed dated 2> July 2024.
Tnutee
The Skinllers Company
Ckrk lo the TruJteeJ
Mr Anthew Kennett CBE
Prlnclp#l
Skinners. Hall. 8 Dowgate ￿11. tmdoN EC4R 2SP
Cbarity F4umber
1209305

SKINNERS, HERITAGE FOUNDATION
REPORT OF THE TRUSTEE (Continued)
FOR THE PERIOD 26 JULY 2024 TO 30 JUNE 2025
Oryanisatiollal Jtructhre
Day to day opetation of the Chatity is delegated to the Clerk by the Tn￿e¢. Th¢ skin[￿s. HeTitage Foundation
Committee oveTsees the mwement of th¢ Charity and reFK)rts to the Court of the Skinners. Company.
Reernllment of ¢ommittee
Committee members are usually approached in the flrst inslance by the Clerk who. with the Chairnlan. k¢eps
membership under review. Final decisions on membership r¢st with the Chairnian. Support and guidanrk are
provided by the chairn1a￿ fellow Board members and the Charity's administrative staff.
Key rnxnagement personnel 4nd remuneradon
The Trt￿te¢ considers the Clerk and the Director of Finance of the Skinners, Company &s comprising the key
mallagemellt personnel of the Charity, in Charge of directin& controlling and operating the Charity. The
Committee members give their time freely and no TnL£tee's Temunerntion was paid in the yeaT. Detsils of
Trus*e's expenses. if any. are di￿105ed in note 3.
The thgrity's 0￿￿tIOnS
The TnLslee is responsible for th¢ governance, finances, and strategic oversRght of the foundation- in line with
good practice. The WOTk of the ¢hartty is overseen by a Committee.
During this fjrst period of Operatio￿ the Charity is f￿using on development in order to g¢nerat¢ capital and
income for the fitherance of its operatkons.
Achlevements
The Ch￿lty is in its initiai p¢riod of fundraisin& It is working to build a capitsl over titne to eslablish a fllm
fllian¢ial foundation to enable it to meet its objects.
Page 2

SKINNERS, HERrrAGE FOUNDATION
REPORT OF THE TRUSTEE (Cotktinued)
FOR THE PERIOD 26 JULY 2024 TO 30 JUNE 2025
FiDaneiAI revlew
The fimds under the TTtt8tee's o)ntrol consist of:
Unrestticted W beimg the funds availabl¢ lo the TTUStee for the general purposes of the Chality.
The Statement of Fift￿claI A¢tivities of the Charity be Swllm￿ as follows..
2025
Donations received
Other income
37.744
63
37,807
(2,015)
Grants al￿ Cl￿ritable activities
Investtnent maT]went Costs
Net in¢omAng resources before gains and losses
35.792
R¢JerYa ￿11
The Charity is anew chaTity and 8imStobuild up its endowmeth overtime. Freeres¢rves atthe yegrend omounted
to £35.792.
Investment wjlley 8lld perforni4n¢e
The Charity's investsnent objective is to mgximise total rettmi while providing income. Management of the
Charity's main inveslment porttolio is held with Cazenove Capital.
Rtsk management
The Charlty maintains a riskregister and reviews risk arllwally. This ensures the Tnu8tee is inthe bes¢ ￿Sitiont0
identify the major risks to which the ChaTity is exposed and estsblish Systems to ensure that these risks are
reviewed and minimised as far as N)ssible.
The principal risks facd by the charity are that inv&8thient returns may not be suificient to meet its obje¢tAves
and grants may exceed income reducing the expendable endowment over time. These are mitigated by retaining
exp¢rt investment mana8¢rs and having & diversified ￿rtfOlio. A new head of philanthropy and development
has been appointed to the staff to drive the fundraising towards an ethos of Tegular giving.
Fundratslng
The Trustee takes its responsibility under th¢ ch￿ltieS (Protection and Social Investtn¢nt) Act 2016 seriously
and h&s considered the implications on the activities of the charity. The Charity does nol adively raise funds or
solicit donations directly from the general publ1¢. The Charity does not Work directly with commercial sFM)nsors
in relation to fimdraising. The Tn]stee is not aware of any Complaints made in respect of fimdraising during the
Page 3

SKtNNERS' HERITAGE FoufiDATION
REPORT OF TRUSTEE (Continued)
FOR THE PERIOD 26 JULY 2024 TO 30 JUNE 2025
Futur¢ plans
The ch￿Ity'S main objective for the coming year is to continue to raise funds to build the ¢xp¢ndable
endowmen¢ to enable it to fijlfil its obJ￿Is.
Public benefit
The Trustee has Compli￿ with the duty in section 4 ofthe Chariiies Act 2011 to hav¢ due regard to all guidance
published by the Charity Commiss10n.
TruJ¢ee's respoD3ibilities
The Trustee is responsible for preparing th¢ Tntstee's Report and the financial statements in a￿ordallCe with
appli¢able law aThl United Kingdom A￿Oullting Standards (United Kingdom Generally Ac¢epted Accounting
Practice).
The law Applicable to charities in England & Wales requires the Trusi¢¢ to prepare financial statements for each
financial year which giv¢ a true and fair view of the state of affaÉr5 of the charity and of the incoming resour¢¢s
and application of resources ofthe charity for that period. In prep￿ing ihese financial slatemellts. the
The trustee is required to:
select suitable accounting policies and then apply them ¢onsistentlyy
observe the methods and prin¢iples in the Charities SORP.
make Judg￿￿entS and estimates that are reasonable And prudent;
state whether appli¢able accounling standards have been followe￿ subject lo any material departures
dis¢losed and explained in the fjnanciai staiements.
prepare th¢ financial statements on the going ¢on¢ern basis unless it is inappropriate to pr¢sum¢ that the
¢hariry will continue in busine&s.
The TTusiee is r¢sponsible for keepin8 proper ￿COUntIng records that disclose with reasonable a¢cwa¢y al any
time the finan¢i81 position of ihe chwity and enable it to ensure that the financial statements Comply with the
Charities Act 2011, th¢ Charity (Accounts ond Reports) Regulations 2008 and the provisions of the trust deed.
They are also responsible for safeguardlng the assets ofthe chatity and hen¢e for takingreasonable steps for th¢
pr¢Y¢ntion and detection of fraud and other irregularili¢s.
Pa8e 4

SKINNERS? HERrrAGE FOUNDATION
REPORT OF THE TRUSTEE (continued)
FOR THE PERIOD 26 JULY 2024 TO 30 JUNE 2025
Bankers and prnftssioD21 advisers
Bankers
Royal Bank of Scotland PLC
62163 Threadneedle Street
London EC2R 8LA
SolicltorJ
Lee Bolton Monier Williams
l The Sanctuary, Westminster
London SWIP 3JT
Independen¢ Exxminer
Cara Turtington FCA I￿hA
Saffery LLP
71 Queen Victoria Street
London EC4V 4BE
Imsurance Broker3
Marsh Brokers Limitsd
1-5 Perrymount Road
Haywants Heath
West Sussex RH16 3SY
Approved by the Trustee on 4 December 2025
and signed on khalf of the Tn￿¢¢ by
nett
Clerk
Pag¢ 5

SKINNERS, HERITAGE FOUNDATION
INDEPENDENT EXAMINERS, REPORT TO THE TRUSTEE
FOR THE PERIOD 26 JULY 2024 TO 30 JUNE 2025
I report to the Trustee on my examination of the accounts of the Skinners, H¢ritage Foundation for the perlod
ended 30 June 2025.
Respv¢ive Responsibilities of Trustee examiner
As the charity's Tn￿le£ of the Charity you are responsible for the preparntion of the accounts in a¢conlan¢e
with lh¢ r¢quirements of the Chariti¢s Act 2011 ('the Acl.).
I report in respect of my examination of the Charity's acoounts carried out under section 145 of the 2011 Act
and in Carrying out my examination I have followed all the applicable Directions giv¢n by the Charlty
Commission under section 145(5Xb) of the Act.
B4si8 of independent examiner's report
My examination was Carried out accordance with the g¢n¢ral Directions given by th¢ Charity Commission.
An examination includes a review of the accounting records kept by the Charity and a compari50n of the
accounts presented with those reciyrds. It also in¢ludes consideration of any unusual items or disclosures in the
accourrts. and seeking explanations from you as Trustee concernlng any such mat¢¢rs. The procedures
undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is
8iveD as to whether th¢ a￿￿nts present a 'tru¢ and fair view, and the report is limited to those matters set out
in the statement below.
Indepelldent examiner's statemellt
I have completed my ¢xamillation. I confirni that no material matters have come to my attention in connectii)n
with the examtn&tion 8ivin8 me cause to b¢li¢v¢ that in any material r¢spwt'.
accounting records were not kept in respect of the Charity as required by section 130 of the Act. or
2. the accounts do llot accord wilh those records. or
3. the accounts do not COllLply with the applicable requirements conc¢rning the forni and content of accounts
set out in the Charities (Accounts and RetKyrts) Regulations 2008 oth¢r tlwi any requirement that th¢
accounts give a 'true and fair view which is not a matter considered as part of an independent
examination.
I have no concerns and have come across no other matters in connection with the examinationto which attention
should be drawn in this report in order to enable a proper understanding of the accounts to be ￿a¢hea.
Cara Turtington FC
Saffery LLP
Statutory Auditors
71 Queen Victoria Street
London EC4V 4BE
Page 6

SI(INNERS% HERITAGE FOUNDATION
STATEMENT OF FINAIYCIAL ACTivrrIES
FOR THE PEIUOD ENDED 30 JUNE 2025
Unreslricted
Fund
Totsl
2025
Notss
Income from:
Donations
Bank inteTe5t
37,744
63
37,744
63
Total in¢orne
37,807
37,807
Expenditure on:
Grants and charitabl¢ activities
,015
Totsl Expenditure
(2,015)
{2,015)
Net income
Transfers between funds
35.792
35.792
Net movement in funds for the peri(•d
35.792
35,792
Balances brought forward
B8lanees Cydrried for*vanl al 30 June 2025
35,792
35,792
The staternent of financial activities ¢ontains all gains and losses for the year. which all relat¢ to continuing activities.
Page 7

SKIIYNERS* HERITAGE FOUIYDATION
BALANCE SHEET
AS AT 30 JUNE 2025
2025
Notes
Currenl assets
Debtors and pr¢payments
Cash at bank
5.094
32,654
37,748
Current Ilabilities
Amounts falling due within one year
(1,956)
N¢t ¢urrent agAet8
35,792
Fullds
Unrestricted fund
35,792
35,792
ved by the T￿￿¢¢ on 4 December 2025 and signed on behalf of the Truste¢ by
AKe
Clerk
Page 8

SK￿￿ERs, HERITAGE FOUNDATIOPI
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERtOD EI¥DED 30 JUNE 2025
A¢eoulltiDg poli¢ieJ
Basts of •¢countillg
The ac¢ounts are prepar￿ under the historical cost ci)nvention as modified by the Tevaluation of
investh)ents (including property held for invesknent purposes). and in accordomce with the second
editiort of th¢ Statement of Re¢ommended Practice: Accounting and Reporting by Charities preparing
their accounts tn accordance with the Financial Reporting Standard appli¢able in the UK and Republic
of treland (FRS 102) published in October 2019 and the Financial Reporting Standard applicabl¢ in the
United Kingdom and Republic of Ireland {FRS 102) and the Charities A¢t 2011. The accruals basis is
followed throughout.
Th¢ accounts (fin8n¢ial statements) have been prep8xed to give a'trne and fair, view and have departed
from the Charitie5 (Accounts and ReN)rts) Regulatio￿ 2008 only to the extent required to provide a
'tru¢ and fair view.. This departure has involved folli)wing Accounting and Rq)orting by Charities
preparing their accounts in accordance with the Fina￿la1 Reporting Standard applicable in the UK and
Republic of Ireland (FRS 102) issued on 16 July 2014 rather than the A￿oUnting and Reporting by
Charities: Statement of Recommended Practice effective from l April 2005 which has since been
withdraw
The Ch￿lty constitutes a public benefit entity ￿ defmed by FRS 102.
The fll]ancial statements are prepared in sl¢rlin& which is the f￿]ctiOnal currency of the Clwity.
Monetary amounts in these fin￿¢la1 statements ar¢ rounded to the near￿ £
Reporting Period
These financial Statements are drawn covering a period of I I months. The Th￿tee h&8 chosen to
close the period on 30 June annually to align reporting with other ￿30¢Lated Charities. As this is th¢
charity's first Peri￿ of account there no comparative figuw.
Going concern
Investrient rn￿ketS are enduring a period of uncertainty and instability. However. inv¢stments are held
for the long terni and valuations are expected to re¢over over the long temi. After reviewing the
Clwity's forecasts and projeclions. the Trustee has a reasonable expectation that the Charity has
adequate resources to continue in operational exist¢nc¢ forthe foreseeable future. The Ch￿lty therefore
continues to adopt the goin8 concern basis in preparing its accoimts.
1.3.1 Investments
Investments Stated at market value. su￿lUst$ ct deficits on revaluation ar¢ taken to restricted or
endoHrnent funds as appropriate. Investment income arising on restricted investments is crnlited io the
rresponding restricted fund. Investment income arising on endoTh]nent Ittvestmet￿ is craited to
4mrestricled fillth or a restri¢ted fL￿d de￿ent on the ternis ofthe endowmert.
Profit and Ioss on disposals is calculated as the difference between the sal¢5 proceeds and th¢ market
value at the b¢8itming of the Y￿ {purch&8e date if later).
Ineome
DonatioJK8 and lega¢i¢s are accounted for as and when entitlement arise4 the amount can be reliably
quantified and the economic benefit to th¢ charity is considered probable.
Property r¢ntsls and interest on sh(Kt tsrni dwits are recO￿lsed when they arise. Dividends and
interest on investments are reuignised when they become due and payable.
Page 9

SKINNERS, EtERITAGE FOUIYDATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2025
Aeeounting policiej (continued)
E¥enditure
Expenditure is accrued a3 500n &8 a liability is ¢onsidered probable.
Crints
Gram exwdilute is recorded once the Charity has made an unconditional commitsnent to pay the wt
and this is ￿Mm￿l￿ted to th¢ recipient or the grant has been pai￿ wthich¢v¢r is ¢arlier.
Cbaritsble *ctivltle8
Costs of clwitable activities ¢ompris¢s direct costs attributable to each activity which include grants
made lo third parties and directly attributable overhead and supN)rt costs. including governance costs,
as shown in Note 3.
C*sb and c48b ¢qulvalents
C&sh and cash ¢quival¢nts include cash in han￿ deposits at call with banks and bank overdrafts.
Flll*nciAI Instrumellts
The Charitable Fund only h&s financial ￿ets and fmancial liabilities of a kind that qualify as basic
financial instruments. Basic fman¢ial instruments are initsally rewgnised at transaction value aud
subsequently measured at their settlement va]ue with the exception of bank loans which are
subsequently M￿ured at amortised cost using the effective interest method. The charity has selected
to apply the provisions of Section I I 'Basi¢ Financial Insttijments, And Section 12 '0th¢r Finaacial
Instnrnents Issues, of FPS 102 to all of its financial It￿rUments.
1.10 UndeBigMt¢d fi￿d$ are the ful￿ available to the ThL%tee f￿ the general purFoses of the Charity.
Pag¢ 10

SKllYNERS' HERrrAGE FOUNDATION
NOTES TO THE FINAIYCL4L STATEMEI¥TS (Continued)
FOR THE PERIOD ENDED 30 JUNE 2025
Income r¢ceived
2025
Donations
Bank inter¢st
37.744
63
ChAritsble *divities
2025
Bank charg&s
Independent examination
59
2.015
The key management personnel of the Charity are the Cl¢rkto the Trustee and the Director of Finance of
The Skinners, Company. The total cost of key management personllel. as re¢harged by The SkinT*rs'
Company is £Nil.
Debtor8
2025
AcCn￿l income
Current liabilKties: Amounts filling due within one year
2025
Accruals- Independent exarninatlon fee
1,956
Skinners. Heritage Foundation is a registered charity. Its income is not liable to direct t￿tion as it is
applied to wholly charitable purpses.
Pag¢ 11